Gaston Residential Services Inc

Analysis

Gaston Residential Services Inc is a registered charity in United States, based in Gastonia, NC. It received its IRS tax-exemption ruling in August 1975, 51 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Gaston Residential Services Inc reported income of $6.3m and spending of $5.2m, spending 82% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $3.2m to $6.3m (+94%), an average of +14% a year. The sharpest change came in the year to June 2023, when income rose by 41%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Gaston Residential Services Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NC. Charities of a similar size with the same main cause include Dianne Adair Day Care Centers ($6.3m), St Joseph Food Program Inc ($6.3m) and YWCA of Greater Portland ($6.3m).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 98% of the total. Compensation of current officers, directors and key employees was $307k (5.9% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $5.3m against liabilities of $1.5m, net assets of $3.7m. It reported 85 employees.